M/S AMMONIA SUPPLIES CORPN (P) LTD. vs M/S MODERN PLASTIC CONTAINERS

The Supreme Court addressed the jurisdiction of courts under Section 155 of the Companies Act, determining that the jurisdiction is summary in nature rather than exclusive. The Court upheld the Full Bench decision of the Delhi High Court, which clarified that the proceedings under Section 155 do not grant the court exclusive jurisdiction over all matters raised therein. Consequently, the appeal by the appellant-Company was dismissed, affirming the lower court's ruling.